No Tax on Overtime for All Workers Act allows a tax deduction for certain overtime compensation.

The No Tax on Overtime for All Workers Act amends the Internal Revenue Code to allow a deduction for certain overtime compensation. This applies to employees covered by agreements specifying standard hours, including those exceeding 40 hours in a 7-day period, or those exceeding regular rates under the Fair Labor Standards Act. The amendment takes effect for taxable years beginning after December 31, 2024.

No Tax on Overtime for All Workers Act allows a tax deduction for certain overtime compensation.

The No Tax on Overtime for All Workers Act amends the Internal Revenue Code to allow a deduction for certain overtime compensation. This applies to employees covered by agreements specifying standard hours, including those exceeding 40 hours in a 7-day period, or those exceeding regular rates under the Fair Labor Standards Act. The amendment takes effect for taxable years beginning after December 31, 2024.